Forex News and Rumors – Afternoon Update

Japan Revises Economic Growth

Japan has officially revised its prediction for the economy for the fiscal year ending March 31st from zero percent growth to a loss of 3.3 percent. More

Swine Flu Concerns Sink Peso

The peso suffered its worst single-day loss in six months today as fears of a swine flu outbreak dominated global headlines. The peso fell 4.1 percent to 13.9060 pesos to the dollar by mid-day trading in New York. More

EU Warns Nations to Keep Debt in Line

The European Union has warned several countries – including France, Spain, Ireland, and Greece – to reduce their budget deficits to return to compliance. One of the conditions of EU membership is that no country will allow its budget deficit – that is, the difference between its spending and its revenue – to exceed 3 percent of its Gross Domestic Product (GDP). More

US Home Vacancies Continue to Climb

The number of vacant homes in the US jumped from 18.6 million last year to a record 19.1 million at the end of the first quarter of 2009. Vacant homes are those left unoccupied and under foreclosure or simply awaiting sale in a market that remains mired in the ongoing recession. More

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